Mirae Asset Global Investments Co. Ltd. Acquires 2,414 Shares of McKesson Co. (NYSE:MCK)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,526 shares of the company’s stock after purchasing an additional 2,414 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McKesson were worth $10,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Wolff Wiese Magana LLC lifted its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter worth $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust bought a new stake in shares of McKesson in the fourth quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $598.85 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $76.02 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.29 and a beta of 0.52. The stock’s 50-day simple moving average is $589.61 and its 200-day simple moving average is $562.56.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. As a group, equities analysts forecast that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is 14.71%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $645.79.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.